本周行情综述 风险提示 地缘政治扰动超预期；海外经济出现衰退；行业及国际政策环境变化。 敬请参阅最后一页特别声明 1 原油：本周油价上涨后回落。白宫下令美军在未来至少两个月内专注于对委内瑞拉石油的"封锁"，当前美国更 倾向于使用经济手段，而非军事手段向委内瑞拉施压。此外，海湾地区裂痕加深，沙特对也门发动空袭，中东局 势存升级风险。地缘因素推升油价。本周五，因泽连斯基将于周日与特朗普讨论领土问题，市场预期和平协议或 进一步推进，叠加供应过剩担忧加剧，油价快速回落。整体看，当前油价仍围绕地缘与供需博弈。截止 12 月 26 日，WTI 现货收于 56.74 美元，环比+0.59 美元；BRENT 现货收于 63.73 美元。EIA12 月 12 日当周商业原油库存 环比-127.4 万桶，前值-181.2 万桶。其中库欣原油环比-74.2 万桶，前值+30.8 万桶。汽油库存环比+480.8 万 桶，前值+639.7 万桶。炼厂开工率环比+0.3%至 94.8%。美国原油库存下降，净进口量环比减少。美国产量 1384.3 万桶/天，美国净进口数据环比-27.9%。截至 12 月 23 日当周，美国活跃石油钻机数环 ...

其间，他们以锻造"操作能力强、职业素养高、工作作风硬"的岗位能手为目标，首创"练兵于教"模式，系统提升内训师能力；精准聚焦一线短板，优化采 油工、集输工轮训方案，创新"三送一评"流动送教，化解工学矛盾；推行"一对一助教"与"培训+转化+考核"三维机制，强化以考促训、以比促练，为高质 量发展注入强劲人才动力。(大众新闻记者顾松通讯员陈军光刘帆) 今年以来，鲁胜公司人力资源服务中心围绕"三个最强"目标，全年开展培训59班次，覆盖2746人次，技能等级认定通过率和技师通过率均超胜利油田平均 水平。 ...

中新 记者24日从中国海油（600938）天津分公司获悉,渤海海域新近系浅层再获亿吨级大发现——秦皇岛29- 6油田。这是中国第一大原油生产基地渤海油田自2019年来连续发现的第7个亿吨级油田。秦皇岛29-6油 田位于渤海中部海域,西距京唐港约44公里,是该海域近年来自秦皇岛27-3油田大发现之后的又一个亿吨 级岩性油田。经测试,该油田单井日产原油约370吨,展现出较好勘探前景。 ...

Group 1: Core Insights - The National Development and Reform Commission and the Ministry of Commerce released the "Encouragement Directory for Foreign Investment Industries (2025 Edition)" which will take effect on February 1, 2026, featuring a total of 1,679 entries, an increase of 205 entries compared to the 2022 version [1] - The new directory aims to optimize the directional guidance for foreign investment, encouraging investments in advanced manufacturing and modern services, thereby enhancing the development level of industrial and supply chains [1][4] - The directory also emphasizes attracting foreign investment to the central and western regions, Northeast China, and Hainan Province, reflecting a proactive attitude towards expanding international cooperation [3][4] Group 2: Industry Implications - The revision of the directory is expected to attract global innovative elements by incorporating new technologies, business models, and new formats, which will help meet the evolving demands in sectors such as healthcare and elder care, thereby improving the quality of life and expanding domestic demand [6] - Foreign enterprises have expressed increased confidence in investing in China due to the new directory, indicating a positive outlook for future investments [8] - The encouragement of foreign investment in advanced manufacturing and modern services aligns with the business directions of many foreign companies, reinforcing their confidence in development [10] Group 3: Energy Sector Developments - Significant progress has been made in China's energy sector, with the discovery of the Qinhuangdao 29-6 oil field, which is a billion-ton oil field with a single well testing a daily output of approximately 370 tons [10] - The National Development and Reform Commission and the National Energy Administration have introduced policies to systematically support the large-scale development of solar thermal power, aiming for a total installed capacity of around 15 million kilowatts by 2030 [12]

一、深圳：民营活力铸就资本新峰 截至 2025 年 12 月 18 日，深圳境内外上市企业已达 592 家，仅 2025 年就新增 15 家。境内 A 股 424 家，分布于深交所主板、创业板，上交所主板、科创板 及北交所；境外市场，港股、美股、新加坡交易所均有布局，构建起多层次、跨市场的上市格局。 深圳上市企业的后备力量雄厚。境内，有 20 家企业处于在审阶段，100 家正在接受辅导；境外，47 家企业向中国证监会申报境外发行证券和上市备案，39 家瞄准港交所，8 家冲刺纳斯达克。 规模扩张的背后，是稳健的经营质效与卓越的创新实力。2025 年 6 月 30 日，424 家 A 股深企总市值达 11.34 万亿元，占全国 10.83%，位居第二，同比增长 36.82%，远超 A 股整体增速。2025 年中报显示，这些企业总营收 32955.43 亿元，同比增长 5.96%，占全国 9.43%，营收前十企业中制造业占半数；归母净 利润 2850.41 亿元，占全国 9.5%，在市场波动中韧性尽显。 研发投入是深圳企业的核心竞争力。2025 年中报，403 家披露研发情况的深企，研发费用合计突破千亿元，达 10 ...

央视网消息：每天8点，央视网为您梳理24小时内发生在咱们身边的大小事儿。 ·国台办：反制与"台独"分裂势力沆瀣一气的人员有理有据合情合法。 ·十四部门部署开展网售工业产品质量安全专项治理行动。 ·最高检：常态化扫黑除恶斗争要坚持严格依法、不漏不凑。 ·央行：要继续实施适度宽松的货币政策，加大逆周期和跨周期调节力度。 ·11月份全社会用电量8356亿千瓦时，同比增长6.2%。 ·稳中有进，前11月中央企业实现增加值9.5万亿元。 ·我国渤海海域新近系浅层再获亿吨级大发现——秦皇岛29-6油田。 ·关于"吸毒记录封存"等，全国人大常委会法工委最新回应。（详情→） ·北京购房新政：非京籍社保缴税要求年限下调，多子女家庭五环内可多买一套。 ·西藏自治区人大常委会党组副书记、副主任王峻被查。 ·中国足球协会纪律委员会原主任王小平受贿案二审维持原判。 ·特朗普：不同意其观点的人不会成为美联储主席。 ·美国前总统克林顿回应爱泼斯坦案新档案：立即全部公开。 ·柬国防部称泰战机投掷集束炸弹，泰军方称仅针对军事目标。 ·南非林波波省公路发生交通事故，已致5死7伤。 ·"金建希特检组"以涉嫌受贿起诉韩国前总统尹锡悦。 ·利比亚军方 ...

Group 1 - The National Development and Reform Commission and the Ministry of Commerce released the "Encouragement Directory for Foreign Investment Industries (2025 Edition)," effective from February 1, 2026 [1] - The State Administration for Market Regulation and other departments launched a special governance action plan for the quality and safety of industrial products sold online, aiming to enhance the quality and safety standards of these products [1] - The People's Bank of China and eight other departments proposed 21 financial support measures to promote the high-quality development of the Western Land-Sea New Corridor [1] Group 2 - The National Energy Administration reported that the total electricity consumption in November reached 8,356 billion kilowatt-hours, a year-on-year increase of 6.2% [3] - Central enterprises achieved a value-added of 9.5 trillion yuan in the first 11 months, reflecting a year-on-year growth of 1.4% [3] - Beijing's housing authorities announced adjustments to real estate policies, easing purchasing conditions for non-local families and supporting multi-child households [3] Group 3 - Sanya's duty-free shops reported cumulative sales of 535 million yuan from November 18 to 22, marking a year-on-year increase of 50.3% [4] - The completion of the Beitian Mountain Tunnel, a key project on the G577 highway, will significantly reduce travel time across the Tianshan North Range to approximately 15 minutes [4]

本报讯(记者向炎涛)12月24日，中国海洋石油有限公司(以下简称"中国海油（600938）")宣布在渤海海 域新近系浅层获得秦皇岛29-6亿吨级油田发现。 据介绍，秦皇岛29-6油田位于渤海中部海域，主力含油层系为新近系明化镇组下段，埋藏浅，油品性质 为中-重质原油。该油田发现井钻遇油层66.7米，完钻井深1688米，经测试，日产原油2560桶。通过持 续勘探，实现秦皇岛29-6油田探明石油地质储量超1亿吨油当量。 秦皇岛29-6油田是石臼坨凸起勘探老区发现的第2个亿吨级岩性油田，进一步彰显了精细勘探的价值， 为公司增储上产夯实资源基础。 中国海油总地质师徐长贵表示："中国海油加强新近系浅层斜坡带油气运聚模式及技术创新并获得重大 发现，突破了斜坡带油气过路而不留、难以规模富集的传统认识，展示了伸展—走滑断裂强烈活动背景 下凸起围斜区的巨大勘探潜力。" ...

央视网消息：12月24日，记者从中国海油获悉，我国渤海海域再次探明亿吨级油田，探明石油地质储量超1亿吨。 秦皇岛29-6油田位于渤海中部海域，距京唐港约44公里。油田发现井钻井深度1688米，发现油层厚度达66.7米，经测试，该油田单井日产 原油约370吨，展现出较好勘探前景。 秦皇岛29-6油田是渤海湾盆地石臼坨凸起勘探老区发现的第2个亿吨级岩性油田，同时也是我国第一大原油生产基地——渤海油田自2019 年来连续发现的第7个亿吨级油气田，进一步彰显了精细勘探的价值，为国内增储上产夯实资源基础。 浙江：连接宁波舟山 青龙门特大桥双主塔封顶 24日，宁波舟山港六横公路大桥二期关键控制性工程——青龙门特大桥双主塔成功封顶，标志着大桥建设进入"斜拉成桥"关键阶段，为 2027年全线贯通奠定基础。 青龙门特大桥位于浙江舟山、宁波海域，横跨青龙门水道，连接宁波梅山岛与舟山佛渡岛。主桥全长2212米，三塔两跨，每跨756米，是 世界最大跨度的三塔钢箱梁斜拉桥。本次封顶的梅山岛侧、佛渡岛侧两个主塔均为钻石型结构，高249米。建设者量身定制大型塔吊装备，有 效应对构件重、高度高、跨度大的吊装挑战。 宁波舟山港六横公路大桥二期 ...

Core Insights - The important directives from General Secretary Xi Jinping provide clear guidance for central enterprises to enhance their contributions to national development and modernization efforts [1][2][3] Group 1: Central Enterprises' Role and Responsibilities - Central enterprises have reached a total asset value of 90 trillion yuan, significantly supporting the national economy through high-quality development [1] - The emphasis on technological innovation and emergency response capabilities highlights the commitment of central enterprises to national interests and public welfare [1][2] - Central enterprises are expected to better serve the national agenda, focusing on high-quality economic development and social responsibility [2][3] Group 2: Industry-Specific Developments - The aerospace sector, represented by the China Academy of Launch Vehicle Technology, aims to deepen research in cutting-edge technologies to achieve the goal of becoming a space power [2] - The mechanical industry, as a backbone of the real economy, is tasked with ensuring industrial safety and promoting technological advancements [2] - The automotive industry, particularly China Changan Automobile Group, is focused on reforming its mechanisms to enhance competitiveness and develop core technologies [4] Group 3: Energy Sector Initiatives - China National Petroleum Corporation has achieved significant oil production milestones, emphasizing energy security and the need for a balanced approach to development and safety [4] - The company is committed to enhancing domestic oil and gas supply capabilities while expanding into renewable energy and international cooperation [4] Group 4: Governance and Leadership - Strengthening the leadership of the Communist Party is deemed essential for the success of central enterprises, ensuring that political and operational responsibilities are aligned [5]